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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 56.80

+0.2%

Nov 21 3:59 PM EST

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To: Maurice Winn who wrote (8246)	11/8/1999 6:00:00 PM
From: Rocket Scientist	Read Replies (1) of 29987

Interview with Motorola's C. Galvin in "Upside Today" upside.com Says some bullish things about Iridium including statement that they've sold 500 IRID phones over last two days in US alone. Also some interesting remarks about CDMA. Credit to lynral on Yahoo IRIQE thread for the link. In a related move, MOT today filed it's response to discovery request filed by bondholders and others in the IRID C11 case. Not surprisingly, MOT objects to the discovery. A hearing is to be held 10 November, it seems. In MOTs filing, Para 22 is the most interesting, excerpts below: "Debtors have no ability to fund this discovery...." "the committee has not explained how these expenses should be paid in view of the Debtors' lack of any unencumbered assets or cash. Indeed, the Debtors are presently obtaining the use of the Secured Banks' cash collateral ONLY (emphasis in filing) because of Motorola's PRESENT (emphasis mine) agreement....to refrain from seeking payment on its Operating and Maintenance Contract, as a result of which Motorola is effectively funding the Debtors at a cost of many millions of dollars per month." ecf.nysb.uscourts.gov

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